The credit repair industry has become a crowded place. Recent economic turmoil has led to more stringent lending restrictions that made having a high credit score far more important than in years. Finding themselves no longer being considered good candidates for loans because their credit score isn't as good as it now needs to be, thousands are turning to credit repair services for help. Eager to cash in on the trend, new credit repair providers are being created all the time claiming to be experts at fixing credit reports.

With so many inexperienced credit repair organizations coming onto the scene, many of which are simply turnkey businesses using a third party software solution as the backbone of their product, it becomes difficult to determine who you can trust with your credit reports. To help separate the best credit repair companies from the amateurs trying to make a quick buck, here are three tips for identifying a reputable credit repair provider:

1) Look for experience - Creating a credit repair company is surprisingly simple. A person only needs a web site and a little money in the bank to pay for a credit repair software package. Remaining in the business and producing good results for customers is harder. The best credit repair services usually have a history of providing credit repair services which is not only indicative of a stable business, but it is also a sign that the company operates within the confines of the law since most underhanded credit repair companies don't last very long.

2) Look for an offline presence - The Internet is a great vehicle for commerce, but the process of correcting your credit reports is more effective when conducted offline. Trustworthy credit repair companies usually have a physical location that you can use as a guide to how solid the company is. Bing Maps or some other satellite imagery service is a great tool for checking out the company's home office. Grab the company's address, pull up a map and see if the company has their own building, operates in an office complex, rents out a spot in a strip mall, or has the mailing address of a personal residence.

3) Look at pricing and payment options - Signed into law in 1996, the Credit Repair Organizations Act establishes rules that credit repair companies must adhere to. One of these is to not require payment for services until after the agreed upon services have been performed. This restriction was put in place to protect consumers from credit repair scammers who would charge large upfront fees and then never fulfill their end of the arrangement.

Naturally, you should avoid credit repair companies who require an upfront payment.

Along with finding out how much and when you will be expected to pay for credit repair services, note the payment options. Most reputable online companies will provide at a minimum the option to pay via credit card on their website or over the phone. Additional payment methods may also be accepted.

Be wary of companies who require checks or money orders as a form of payment because you do not have the same level of protection in case you need to recover your money if something goes wrong. Also watch out for companies who use a third party payment system on their website such as Paypal since this can be indicative of a fly by night clinic. Finally when submitting payment information online, make sure the webpage is secured. If not, your personal information could be intercepted. Before keying in your credit card on a webpage, make sure the address of the page starts with "https" and your browser (Internet Explorer, Firefox, Safari, etc.) displays a padlock or similar icon indicating the connection is encrypted.